By Derick Tsimba

Government has appointed the Monetary Policy Committee (MPC) of the Reserve Bank of Zimbabwe (RBZ), the Finance Minister has said.

In a Press Statement this Tuesday, the Minister of Finance and Economic Development, Professor Mthuli Ncube said President Emmerson Mnangagwa had approved the appointment of a 10 member MPC for RBZ with effect from, 10 September 2019.

“In terms of the Reserve Bank of Zimbabwe Act Section 29B, and in consultation with His Excellency, the President, Cde E.D. Mnangagwa, I am pleased to announce the appointment of a Monetary Policy Committee of the Reserve Bank of Zimbabwe, with effect from 10 September 2019,” said Minister Mthuli.

The following people were appointed into the committee;

Dr John Mangudya, RBZ Governor and Chairman

Mr Kumbirai Katsande

Prof Ashok Chakravarti

Mr Douglas Munatsi

Mrs Marjorie Mgwenya

Mr Eddie Cross

Prof Theresa Moyo

Dr Kupukile Mlambo, Deputy Governor

Dr Jesiman Chipika, Deputy Governor 

The Harare Post has learnt that the monetary policy is a process of drafting, announcing, and implementing the plan of actions taken by RBZ. The Committee will be responsible for the management of money supply and interest rates, aimed at controlling inflation, consumption, growth, and liquidity.